E-health startup BusyMed raises funding for its expansion plans

SOUTH AFRICA – South African e-health startup BusyMed, which is improving access to pharmacies for communities around the country, has raised additional funding to speed its expansion plans. The new round of investment was from E4E Africa, an entrepreneur-centric VC fund led by experienced entrepreneurs, aligned mentors and investors. “Access to quality healthcare and medicine is one of the major…

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Standard Bank appointed as lead financing provider for De Beers diamond project

SOUTH AFRICA – Standard Bank Group, has provided R4 billion (US$229.28m) of an R10 billion (US$573.19m) syndicated debt funding package required by De Beers Group for the biggest single investment in South Africa’s diamond industry and one of the largest mining investment projects currently underway in Africa. As one of the financers, Standard Bank was responsible for the largest debt…

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UK’s impact investor BII backs Algebra Ventures and Endure Capital, intends to inject US$100m into Egyptian startups

EGYPT – British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has announced new commitments to Algebra Ventures and Endure Capital. Algebra Ventures is an Egyptian venture capital firm that invests in technology startups that leverage innovation to transform large markets. The capital will support Algebra Ventures’ second fund following the success of Fund I, which…

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Old Mutual Insure acquires Genric Insurance Company to expand its customer base

SOUTH AFRICA – Old Mutual Insure (OM Insure), a subsidiary of Old Mutual Limited, has announced that it has signed a share purchase agreement that will see it acquiring 100% of Genric Insurance Company Limited. Based in Gauteng, Genric Insurance Company is a licensed non-life and specialist insurer focused on bringing innovative and niche insurance solutions to market. The transaction,…

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Ghana signs MoU with ATI to promote access to reliable, clean, and affordable electricity

GHANA – The Government of Ghana has signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATI) for the rollout of the Regional Liquidity Support Facility (RLSF) within the country. The MoU is in line with the government’s mission to promote access to reliable, clean, and affordable electricity. RLSF, a joint initiative of ATI, the KfW Development…

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Canada’s Neobank Be Mobile Africa launches its services in South Africa

SOUTH AFRICA – Canada-based Neobank Be Mobile Africa has announced its official launch in South Africa with a mission to make banking accessible to the unbanked and underbanked in the country. It also offers low to no-fee banking products through its mobile app. According to a statement by the company, opening a Be Mobile Africa account will enable customers to…

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